Enterprise Trust & Investment Co Lowers Stake in Micron Technology, Inc. (NASDAQ:MU)


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Enterprise Trust & Investment Co reduced its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 75,745 shares of the semiconductor manufacturer’s stock after selling 900 shares during the period. Micron Technology comprises 2.8% of Enterprise Trust & Investment Co’s portfolio, making the stock its 6th largest holding. Enterprise Trust & Investment Co’s holdings in Micron Technology were worth $6,019,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of MU. Cubist Systematic Strategies LLC grew its stake in Micron Technology by 8.6% in the second quarter. Cubist Systematic Strategies LLC now owns 48,987 shares of the semiconductor manufacturer’s stock worth $2,524,000 after purchasing an additional 3,888 shares in the last quarter. Engineers Gate Manager LP purchased a new position in shares of Micron Technology in the 2nd quarter valued at approximately $1,760,000. FormulaFolio Investments LLC lifted its stake in shares of Micron Technology by 11.6% during the second quarter. FormulaFolio Investments LLC now owns 6,857 shares of the semiconductor manufacturer’s stock worth $353,000 after buying an additional 710 shares during the period. tru Independence LLC lifted its position in Micron Technology by 110.4% during the 2nd quarter. tru Independence LLC now owns 5,336 shares of the semiconductor manufacturer’s stock worth $275,000 after acquiring an additional 2,800 shares during the period. Finally, RMR Wealth Builders acquired a new stake in shares of Micron Technology during the second quarter worth about $31,000. Hedge funds and other institutional investors own 71.31% of the company’s stock.

In other news, SVP Joel L. Poppen sold 30,900 shares of Micron Technology stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $56.80, for a total value of $1,755,120.00. Following the completion of the transaction, the senior vice president now owns 335,558 shares in the company, valued at approximately $19,059,694.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David Zinsner sold 9,051 shares of the business’s stock in a transaction dated Friday, December 18th. The stock was sold at an average price of $72.17, for a total value of $653,210.67. Following the transaction, the chief financial officer now directly owns 129,214 shares of the company’s stock, valued at $9,325,374.38. The disclosure for this sale can be found here. Insiders sold 146,690 shares of company stock valued at $9,237,406 in the last 90 days. Company insiders own 0.30% of the company’s stock.

Shares of Micron Technology stock opened at $79.91 on Thursday. The business’s 50 day moving average price is $71.97 and its 200 day moving average price is $55.72. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.86 and a current ratio of 2.71. The company has a market cap of $89.39 billion, a price-to-earnings ratio of 33.72, a PEG ratio of 1.83 and a beta of 1.37. Micron Technology, Inc. has a one year low of $31.13 and a one year high of $84.16.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, January 6th. The semiconductor manufacturer reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.07. Micron Technology had a net margin of 12.54% and a return on equity of 7.73%. The company had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.66 billion. During the same quarter last year, the firm posted $0.48 earnings per share. Micron Technology’s revenue was up 12.2% compared to the same quarter last year. On average, analysts predict that Micron Technology, Inc. will post 3.12 EPS for the current fiscal year.

A number of research analysts have issued reports on the company. Cleveland Research raised Micron Technology from a “neutral” rating to a “buy” rating in a report on Wednesday, September 23rd. Mizuho boosted their target price on shares of Micron Technology from $85.00 to $92.00 and gave the company a “buy” rating in a research note on Friday, January 8th. Rosenblatt Securities raised their price target on shares of Micron Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, January 8th. KeyCorp upped their price objective on shares of Micron Technology from $82.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, January 8th. Finally, Raymond James increased their target price on shares of Micron Technology from $80.00 to $110.00 and gave the stock a “strong-buy” rating in a research note on Friday, January 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $84.19.

Micron Technology Company Profile

Micron Technology, Inc designs, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR, and 3D XPoint memory under the Micron and Crucial brands, as well as through private labels.

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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